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Business, 19.12.2019 06:31 jaccamoboy

Net sales for the year were $1,100,000 and cost of goods sold was $781,000 for the company�s existing products. a new product is presently under development and will have an expected selling price of not more than $69 per unit in order to remain competitive with similar products in the marketplace.

required:

a.

calculate gross profit and the gross profit ratio for the year.

net sales $1,100,000 ? %

cost of goods sold $781,000 ? %

gross profits $319,000 29 %

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Net sales for the year were $1,100,000 and cost of goods sold was $781,000 for the company�s existin...
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